The company’s powerful suite of products reimagines Main Street’s broken pay system, as new payday study predicts the death of the traditional paycheck by the end of 2024.
San Francisco, October 19, 2023 – Homebase, the all-in-one team management app that helps more than 100,000 local, small businesses manage their hourly teams, is opening the door to the future of pay for Main Street with an updated suite of powerful payday tools that radically reimagine dated payroll systems. This comes on the heels of a new, small business payday study by the company signaling the death of the paycheck as we know it by the end of 2024. These innovations mark a new era of pay. Homebase wants small businesses to stop running payroll. Homebase Payroll brings innovation and automation to outdated payroll processes at a time when small businesses need it most. The company’s payday study revealed that traditional payroll systems continue to fail small businesses, costing them time and money.
Homebase is completely reimagining payroll for small businesses—especially those facing the complexity of managing hourly employees—by integrating time-tracking and payroll in one place. This saves small businesses from wasted time and errors because they don’t have to transfer critical data between systems or do manual calculations with every payroll run. And with fully automated payroll and tip-pooling coming soon, small businesses will never have to “run” payroll again. “Homebase Payroll is the complete package, including the extremely helpful support staff. It’s very user-friendly and it makes payday a breeze for me and for my workers,” said Joseph Marino, Owner of Max Protection Moving LLC. Homebase empowers workers to do payday their way.
The traditional, two-week pay cycle doesn’t line up with the needs of today’s hourly worker. Bills, rent, daily essentials, and emergency expenses can’t wait for their next payday, leading workers to take out risky payday loans or to go into overdraft on their bank accounts just to make ends meet.
To help small businesses take care of their people, Homebase offers hourly workers on-demand access to their earned wages, with tools like Cash Out or the recently released Homebase Pay Any Day Visa Debit Card. Immediately after an employee clocks out from their shift, they can access the wages they’ve just earned for free (i.e. no fees or interest for the employee, and no cost or liability to the employer). This puts financial control back in the hands of hourly workers. Homebase brings total transparency to small business owners and workers alike.
By connecting all parts of team management, from scheduling to timesheets to payroll, Homebase’s predictive modeling enables owners to more accurately plan for labor costs. For hourly workers, Homebase offers a complete financial picture, with the earnings tab and the newly launched bill tracking, all in one app. They are able to plan ahead, predict earnings and expenses, and adjust for shortfalls—removing a key source of financial stress. “This is about more than just new technology. We’re reimagining payday for Main Street from the ground up,” said Homebase Founder & CEO, John Waldmann. “We’re proud to usher in a new era of pay for Main Street that delivers the best possible pay experience to small business teams,” said Waldmann.
Study Methodology: From August 31 to September 8, 2023, Homebase conducted a comprehensive study made up of two surveys, which gathered first-hand insights from over 850 hourly workers and 500 small business owners based in the U.S. Key findings are available here. The post Homebase Redefines Payday for Small Business Teams appeared first on Homebase. via Homebase https://joinhomebase.com/blog/homebase-redefines-payday/
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